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Sunday, 29 April 2012

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Colombo Port records 11 percent yoy growth

The Colombo port recorded an 11 percent year-on-year growth compared to the port of Singapore and Salalah said Managing Director Sri Lanka Ports Authority (SLPA), Capt. Nihal Keppetipola.

He was addressing the seventh Southern Asia Ports, Logistics and Shipping 2012 Sri Lanka on Thursday.

He said that Sri Lanka is ahead of the race with a strategic plan to attract cargo and boost port revenue.

The completion of the Colombo South Harbour Expansion project, the dry port in Peliyagoda, containerisation and phase two of the Hambantota port will be a boost for the port sector.

“Work on the South Container Terminal has commenced and the first 600 metres will be completed by end 2013.

The first phase of the East terminal will be ready by the end of this year and all terminals will be completed by 2016”, he said.

The Colombo South Harbour port terminal will be the only port in the region to serve new 18,000 TEUs (twenty foot equivalent units container vessels next year, according to shipping experts.

It is a $500m project built by a consortium led by China Merchant Holdings International.

The project will raise the capacity of the Colombo Port from the existing four million TEUs annually to about 12 million.

The South Harbour will focus mainly on handling transshipment cargo in the subcontinent. At present, the Port of Colombo alone handles around 15 percent of transshipment cargo in the subcontinent.

Capt. Keppetipola said that state-of-the art IT systems and traffic management will be in place in the port. A port city comprising around 400-500 acres will be constructed adjacent to the port.

He said that ports will have to be large to accommodate l 8,000 TEU vessels coming on stream. Over 10,000 TEU vessels will be out next year. Sri Lanka handles around 14 percent of the transhipment via the Colombo port.

“Indian container traffic will be over 40 million Teus by 2020 due to the growth of the economy. Neighbouring ports are developing tremendously through private public partnerships” SLPA Managing Director said.Senior Partner Hauer Associates India, S.N. Srikanth said that Sri Lanka is raising towards prosperity geared to compete with India.

Vibrant ports in Colombo and Hambantota will accelerate economic development in the country.

 

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